World’s first commercially useful quantum computer to be built in Queensland

The Queensland and Federal Governments have committed $940 million to US start-up company PsiQuantum, who have promised to build the world's first commercially useful quantum computer in Queensland. Quantum computers perform calculations beyond the capability ordinary computing. They are viewed as the holy grail of computer scientists. Two of the companies’ co-founders, professors Jeremy O’Brien and Terry Rudolph, spoke at a press conference with Prime Minister Anthony Albanese, Industry Minister Ed Husic and Queensland Premier Stephen Miles. Albanese is hopeful the long-term gains from a fault-tolerant quantum computing program will add up to 240,000 jobs by 2040.